The report highlights that over 80% of firms in the BFSI sector have started the RPA journey, with 17% in the planning phase, 26% in piloting, 11% evaluating the effectiveness of the RPA solution and 35% having implemented a solution and looking to expand.
Charles Mulinder, Former Managing Director of Group Technology, UBS, said: “We have rapidly learnt that RPA is most effective when you address both the process and automation together. The documented process, data collected from process execution and PEX capability are core to any digital transformation.”
Of those surveyed 26% saw automating non-standardised processes in RPA as the main obstacle in implementing a solution, with lack of resources and budget availability placing second and third among concerns with 16% and 13% respectively.
Mulinder commented on standardisation issues, saying: “It reinforces the need for companies to invest now in PEX capabilities and use RPA as the ‘training ground’ for effective use AI and cognitive technologies beyond niche implementations.”
Also featured within the report is the progression of AI in the business sector, with almost 40% of the respondents stating that they have either implemented a solution or are currently piloting solution for AI.
The full report is available here for free: https://goo.gl/P9nfrw
About the RPA & Artificial Intelligence for Banking, Financial Services and Insurance Summit
The Benchmarking Report focuses on industry trends that will be explored in more detail at this year’s RPA & AI for BFSI World Summit. The event will bring together thought leaders and end-users from across the industry. Learn more about the event and RPA for BFSI by visiting https://roboticsbfsi.iqpc.com/
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